Stratasys, Ltd. (NASDAQ:SSYS) was upgraded by investment analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $29.00 price target on the technology company’s stock, down from their previous price target of $32.00. Citigroup Inc.’s price objective suggests a potential upside of 30.10% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Piper Jaffray Companies upgraded shares of Stratasys from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $21.00 to $28.00 in a report on Monday, April 17th. Goldman Sachs Group, Inc. (The) cut shares of Stratasys from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a report on Monday, June 26th. William Blair cut shares of Stratasys from a “market perform” rating to an “underperform” rating in a report on Monday, May 15th. Bank of America Corporation reiterated an “underperform” rating and issued a $20.00 price target (up previously from $17.00) on shares of Stratasys in a report on Wednesday, May 17th. Finally, Zacks Investment Research cut shares of Stratasys from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Stratasys has an average rating of “Hold” and an average target price of $23.83.

Stratasys (NASDAQ SSYS) traded up 0.67% on Thursday, hitting $22.44. 1,077,629 shares of the company were exchanged. The stock has a 50 day moving average of $24.11 and a 200 day moving average of $23.33. Stratasys has a 52 week low of $16.37 and a 52 week high of $30.88. The company’s market capitalization is $1.18 billion.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.16. Stratasys had a negative net margin of 10.17% and a negative return on equity of 0.03%. The firm had revenue of $170 million for the quarter, compared to analysts’ expectations of $167.82 million. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Analysts predict that Stratasys will post $0.33 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in SSYS. Teton Advisors Inc. raised its position in shares of Stratasys by 10.7% in the first quarter. Teton Advisors Inc. now owns 41,500 shares of the technology company’s stock valued at $850,000 after buying an additional 4,000 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in shares of Stratasys by 7.7% in the first quarter. Stoneridge Investment Partners LLC now owns 27,428 shares of the technology company’s stock valued at $562,000 after buying an additional 1,962 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Stratasys by 26.3% in the first quarter. Tocqueville Asset Management L.P. now owns 133,069 shares of the technology company’s stock valued at $2,727,000 after buying an additional 27,680 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Stratasys by 14.3% in the first quarter. Wells Fargo & Company MN now owns 95,498 shares of the technology company’s stock valued at $1,957,000 after buying an additional 11,957 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Stratasys by 3.3% in the first quarter. IFP Advisors Inc now owns 6,977 shares of the technology company’s stock valued at $143,000 after buying an additional 225 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

Stratasys Company Profile

Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.

Analyst Recommendations for Stratasys (NASDAQ:SSYS)

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